The decision of renting a property may be difficult one for owners but all said and done it’s a profitable proposition. Owners not only make money with their property but also add to its value. Renting out a property is not an easy job to begin with. Before renting a house and being dubbed a landlord, there are a lot of factors one must consider. Some important tips for successfully renting out your house are given below:
- The local state rules and regulations should be reviewed carefully, since every state has its own set of laws for landlords and tenants. Some basics clauses to understand include the number of people you can rent to, who is responsible for taking care of the damages of the house, limitations on rental increase if any and so on.
- Before renting your house prepare a rental budget for getting maximum profit. The rental charges must cover up the recurring expenses of the property like the mortgage payment and property taxes as well as unusual expenses like furnace replacement, flood damage etc. Make an estimate of the expenses that will be spent on maintenance of the house. Compare these expenses with the estimated rentals and then fix the appropriate rent. Also compare the rental charge of other similar properties and make sure that the rent is equivalent to the market rate.
- Using the services of a property management company would be advantageous. They will help the landlords by providing emergency repair services, collecting rent and cleaning vacant units. Hiring a property management company will keep you from any worries regarding your rented property. The expenses of a property management company can be added to the rental budget.
- Advertise the property in the "Houses for Rent" sections of the local newspapers. This will help the homeowners to find people who are looking for a property on rent. An advertisement on the local online sales website would also be beneficial. This must include the house features and rental rate. Also reveal that from when the property will be available for rent. Along with that also give a deadline for the rental applications in order to get an appropriate tenant after reviewing the applications thoroughly.
- Once the tenant is selected prepare a rental contract, which has its basis on the state rental laws. The contract will include the tenants’ rights, the notice amount that they will have to pay the landlord when they want to leave the house and what are they required to do in case of any repairs of the property.
For more information, visit us at Lone Star Realty & Property Management Inc. We are located at 1020 W Jasper Dr, Killeen, TX 76542.
In the real estate market today, buying or selling a home on your own is a tedious task. You may lack time and enough market knowledge and in the end if you are able to find a deal, you may not be probably satisfied with that. Therefore, it is strongly recommended that you hire a professional with an expertise in the real estate market. The real estate professional called realtor will firstly list your property on a Multiple Listing Service (MLS), which is important whenever dealing in any property.
A Multiple Listing Service or MLS is a comprehensive collection of private databases that is organized for a convenient access by several real estate agents. They agree to share their listings with each other to track willing and able buyers for properties, easily and quickly. This system is very advantageous for both the home buyers and sellers as it consists of entire information about the property on sale. The numerous features are determined by the realtors who have a complete know-how about that local marketplace.
Prior to the Multiple Listing Services, the property buyers had no other choice than to work with various companies for getting acknowledged with the available properties. With the MLS systems the buyers need not to work with different companies. The real estate agent who is subscribed within MLS has an access to the various properties in the list. On hiring such an agent, the buyer will be provided with full information about every listed property.
With the advent of internet, complete scenario of the working of the MLS system has changed. Earlier, only the agents had access to the system and it was only them who could see and control the listings. But now, through Internet it has changed to more of a consumer marketplace. The potential buyers and the agents have almost the same level of knowledge of the available properties.
The National Association of Realtors (NAR) allows only limited listings that can be seen by the property buyers on the MLS consumer website and other websites related to multiple listing services. A lot of potential buyers make use of these websites to view the available properties in the desired area. In spite of that, the buyers have to contact the real estate agents before actually getting involved into the deal with the seller because NAR deliberately withholds some information from the public, that includes the seller contacts and whether a home is vacant.
Are you getting your home ready to sell? If yes, then it would be wise to think of it as a product that is about to enter the market to compete with a range of newly constructed houses. Thus, to make it look better than the rest, the house’s exterior should be worked upon. It should be clutter-free and well kept. Since people lead a very busy life, they would be least interested in handling the major repairs after moving in.
In order to make your house score a “10 on 10”, you need to ensure your house looks fresh, clean and well maintained! The following tips can help you in this regard:
- Fix it first: If any improvement is to be made in the house, do it before you declare your house on sale in the market. After all, no potential buyer would be interested in knowing about your good intentions if he is able to see the defects in the house before the deal is finalized.
- Check your house’s curb appeal:
Let’s begin from outside: How does your house look from the street? This is what the potential buyers will consider when they first see your property. It will form the first impression about your house in their minds.
- Remove any clutter from your yard.
- Repair cracked or uneven driveway or walkway surfaces.
- If it is the right time of year, you can buy some flower-filled planters to enhance the appeal of your property.
- Make sure your lawn is mowed regularly to make it look neat and tidy.
- Make sure all your windows and walls are clean.
- Paint your front door if required.
- Check out the lights. Replace any missing or burned out bulbs.
- Clean fixtures of dirt and cobwebs.
Now, let’s go indoors:
- Get the clutter out of sight and make your buyer see a neat and tidy interior.
- Ensure that carpets are clean and floors are scrubbed and polished.
- The walls must show fresh paint (preferably neutral colors).
- Take a sniff around and make sure there are no unpleasant odors in your home. If so, track them down and eliminate them.
- Ensure all your lights work and are free of cobwebs.
- Make your home look spacious, bright and fresh.
For more tips on selling or renting your house, visit us at Lone Star Realty & Property Management Inc. We are located at 1020 W Jasper Dr, Killeen, TX 76542. You can also call us at (254) 699 – 7003 or (254) 290-4153.
Truly said, an ounce of prevention is worth a pound of cure. Regular maintenance and repairs of a house not only ensures its safety, also enhances its curb appeal and value. It’s important to realize that without proper maintenance, your home could lose up to 10% of its value!
When a property needs maintenance or repair, it must be done in the right manner. That’s the reason why you must choose a property management firm to take care of the maintenance and repair tasks. In addition to other management services such as tenant placement and rent collection, these companies employ in-house maintenance professionals to take care of all your maintenance tasks. They provide consistency and accountability throughout the maintenance tasks. These professionals also get acquainted with your tenants so that they feel more comfortable with their visits in the house, and so do you!
Plus, employing property maintenance people reduces costs that you would have spent by opting for an outside contractor, especially in the case of weekend visits. The home maintenance services provided by property management companies include but are not limited to:
- General repairs
- Painting and decorating
- Jammed garbage disposal
- Monthly filter changing (of air conditioners)
- Assembling furniture
We at Lone Star Realty & Property Management Inc. provide A to Z home maintenance and repair services of residential properties in Fort Hood and Killeen areas of Texas. All you need to do is submit a maintenance request in writing at our office. The form ‘online work order’ has been provided at our website. Once you have submitted the written request, we will assign the work to a local company in your area.
For more information on our property maintenance and repair services, visit our maintenance department at Lone Star Realty & Property Management Inc. We are located at 1020 W Jasper Dr, Killeen, TX 76542. You can also call us at (254) 699 – 7003 or (254) 290-4153.
A timely rent payment by tenants is something all landlords look forward to when renting out their properties but it is a rare spectacle to enjoy. Most of the tenants delay their payment, which becomes quite an inconvenience for landlords who are dependent on that money for the payment of mortgages or some other fixed monthly expense. To avoid such situations, smart landlords in areas like Killeen and Fort Hood are encouraging tenants to pay their rent online for the benefit of both parties. This way, the landlords get their rent in time and as far as tenants are concerned, the whole process of paying rent becomes less burdensome and a lot easier.
Property management companies in Killeen and Fort Hood are making tenants aware of the benefits of the easy-to-use and reliable method of paying rent online. The fundamental principal behind the working of this method is that the rent to be paid is debited from the tenant’s bank account and directly deposited to the account of the landlord. Paying rent online benefits the tenant in the following ways:
- It improves their credibility in the eyes of the landlord as the payment is always made on time.
- They do not have to incur extra expenses such as late fees as the rent will be paid in time automatically on a fixed date of every month.
- They can submit maintenance requests to the landlord through the rent payment site and instantly get notified on any development in this regard.
- It is much easier to get in touch with the management over any issues related to the tenancy.
- In case the tenant needs any information about the payments made, all the records can be submitted to him or her instantly.
Tenants cannot be forced to pay rent online, but you can at least inform them about what they have to gain in the long run. You can also reward tenants who pay online with gift cards or some other interesting offer. Tenants who are not technology savvy will require more hard work on your part and you will have to win their confidence about the working of this system and ensure them it is a safe and reliable one. Make the idea of paying rent online visible to your tenants by putting reminder messages of the same in the e-mails you send to them or on your website if any.
Renting out your home is one smart way of utilizing your property and making the most out of it, especially when the economic conditions are not very favorable. The reasons for renting out one’s home vary from person to person but most people prefer doing so in order to make some extra income, protect their homes from vandalism, pay off important bills, etc. The reasons for renting out your home might be numerous, but it is important to understand a few challenges that you might have to face as a landlord.
Here are some tips that could be useful in making you a successful landlord:
- Competitive prices: Before renting out your home, take out some time and research on the prevailing rentals in your locality. Potential tenants will look for a package of competitive rates and features that stand out from the rest. Tread the extra mile to make potential tenants feel that your home is an edge above the rest and far more economical in terms of rent.
- Screen the tenants carefully: You cannot afford to be careless when it comes to choosing the tenants for your home. It is very important for the tenant to be one who can pay the rent well in time, should not have any criminal records. The tenants should have no previous history of not being able to pay the rent, etc. You want someone who will not cause damages to your property but instead take care of it and keep it in a good condition until the end of the rental term.
- Understand your responsibility as a landlord: Before taking the plunge, you should be aware of the advantages and disadvantages of lending your property. In addition to enjoying the benefits such as extra money, protection and care for your home etc, you have to be ready for the responsibility of taking care of the repairs and maintenance, collecting rent, taking legal action against bad tenants and the like.
- Preparations: Tenants are very choosy when it comes to picking a house for rent and for this, you will have to prepare your home to suit their requirements and tastes. The preparation usually involves thoroughly cleaning the premises, ensuring the appliances, if any, are in working condition, paint of the house, etc. Tenants these days desire features such as washers, dryers, a garage, air conditioning, etc, so be sure to mention these features when advertising your home and try to make use of reputable websites and local newspapers for the job.
For more tips on renting out your home, visit us at Lone Star Realty & Property Management Inc. We are located at 1020 W Jasper Dr, Killeen, TX 76542. You can also call us at (254) 699 – 7003.
Whenever you are searching for a property to purchase or hire on rent, the first and foremost thing that you consider is its location. If Central Texas is where you want to settle, then the City of Killeen can be your dream destination. A popular city at Bell Country in Texas, this city has full time arts organization, Vive Les Arts Theatre. It also houses the popular Fort Hood military post situated just outside the Killeen. You can easily find a rental place or a property to buy in Killeen equipped with all basic and modern amenities. Simply hire a realtor or any property management firm in the city and find a dream home in your budget.
Earlier in 1882, the city of Killeen served as a shipping station for cotton and cattle. Since then the city has prospered with booming businesses. It is located at an hour distance from Austin, three hours distance from San Antonio, four hours from Houston and three hours from Dallas. There are many public and private schools in the area. The Central Texas College, Tarleton State University-Central Texas and University of Mary Hardin-Baylor offer higher education. There are around 100 churches in the city representing over 20 denominations. A good recreational environment is offered for the locals and tourists with 31 parks, 2 swimming pools, 32 tennis courts and also a golf course owned by municipality.
The lifestyle of people of Killeen is very vibrant and colourful. The place is very lively which enthrals various tourists with its scenic beauty. Pleasant weather throughout the year matches the beauty of the place. The clean and safe neighbourhood in the area attracts people to invest here. There is a considerable increase in the average income of an individual that implies to a rise in job opportunities in this area.
The area of Killeen has been rated as one of the most inexpensive areas in Texas and therefore people can afford to rent or buy a property. You can choose from the many property management companies and realtors who can help you buy or rent a house of your dreams that too in your budget. They have detailed knowledge about various properties in your Killeen, Texas and will provide you with best deals.
To find out various options for Homes on rent in Killeen, visit us at Lone Star Realty & Property Management Inc. We are located at 1020 W Jasper Dr, Killeen, TX 76542. You can also call us at (254) 699 – 7003.
After investing huge amount in residential property, you might want to give it out on rent. Now the challenge is to find a decent tenant who would not only pay rent on time but also adhere to your terms and conditions of property usage. This is where we at Lone Star Realty and Property Management come into play. We are Killeen Tx based real estate and property management group who would not only do tenant search for you but also look after rental collection, maintenance, and the legal paper work involved in renting out a property. Various Property Management Services provided by us are:
- Determine the best rental rate: We thoroughly view your property before determining its genuine rental value. We take quality pictures of the interior and exteriors of the property and would also let you know if it needs any specific repairs which can enhance rental worth.
- Market the unit to tenants: With wide experience in Rental business in Killeen and Ft Hood areas, we have huge database of people looking for a house on rent. We also indulge in marketing activities to find tenants for your property.
- Screen potential tenants: We also provide tenant screening service to make sure you get decent tenants as per your requirements. We meticulously check the background of tenants and let them know about your terms and conditions.
- Legal Documentation: We assist our clients in framing up and negotiating rental lease agreements.
- Supervise tenant move in: It would be our duty to assist tenants while moving in. We would clear all doubts of the tenants and make sure that they understand their responsibilities as tenants.
- Rent Collection: We make sure that rent is collected on time from tenants and if there are any delays, we take the necessary actions including fine collection as per the rental contracts.
- Inspect the property regularly: We perform regular inspections of the property to make sure that it is used as per rental lease terms. We also let property owners know if there is any requirement for maintenance of the same.
- Supervise tenant move out: When a tenant wants to leave your rented property, we would check the unit to make sure that the locks are re-keyed and the unit is clean.
To know more about our rental and property management services, visit us at Lone Star Realty & Property Management Inc. We are located at 1020 W Jasper Dr, Killeen, TX 76542. You can also call us at (254) 699 – 7003.